Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Apr. 01, 2021
Mar. 26, 2020
Operating activities    
Net income $ 75,796 $ 37,063
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 26,415 22,088
Gain on asset impairments and disposals, net 0 (29)
Deferred income taxes 4,459 (4,739)
Interest cap derivative contracts 84 83
Stock-based compensation expense 4,734 2,908
Changes in operating assets and liabilities:    
Receivables, net (9,575) 18,740
Inventories, net 46,351 (7,076)
Trade accounts payable (13,376) (48,644)
Accrued expenses and other current liabilities (16,204) (2,478)
Income taxes 1,244 12,542
Deferred revenue 5,544 506
Other, net (24,476) (6,296)
Net cash provided by operating activities 100,996 24,668
Investing activities    
Purchases of fixed assets (45,876) (38,384)
Net cash used in investing activities (45,876) (38,384)
Financing activities    
Borrowings on revolving line of credit 0 275,000
Proceeds from term loans 65,000 0
Payments on term loans (75,151) (875)
Proceeds from exercise of stock options 2,383 3,783
Proceeds from employee stock purchase plan 1,302 1,131
Debt issuance costs (1,409) (2,429)
Tax payments for stock-based compensation awards (966) 0
Net cash (used in) provided by financing activities (8,841) 276,610
Net increase in cash and cash equivalents 46,279 262,894
Cash and cash equivalents, beginning of the period 307,772 27,037
Cash and cash equivalents, end of the period 354,051 289,931
Supplemental disclosures of cash flow information    
Buildings and equipment acquired under operating leases 53,758 63,578
Cash paid for interest, net of capitalized interest 1,376 1,298
Cash paid for income taxes, net of refunds 13,055 0
Fixed assets accrued at the end of the period $ 46,275 $ 19,620